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News2024-03-11T09:35:49-04:00

CRS 2.0 and CARF

October 23rd, 2025|

The Organisation for Economic Co-Operation and Development (“OECD”) has completed amendment to the Common Reporting Standards (“CRS”). The CRS law was implemented in the Virgin Islands in 2015 with the effective date being 1st January, 2016. The Virgin Islands, as an early adopted, exchanged financial account information under CRS in September 2017.

Payment Issues on BVIFars Portal – Alternative Options Available for Bulk Payments

May 28th, 2025|

The British Virgin Islands International Tax Authority (BVIITA) is informing users of the BVI Financial Account Reporting Systems (BVIFARS) of the following: ISSUES WITH MAKING PAYMENTS VIA CREDIT CARDS Users of the BVIFars portal who are currently experiencing difficulties making bulk payments via credit card or are unable to complete the payment

BVIFars Portal – Payment Processing Restored & Available

May 26th, 2025|

Dear Users, We’re pleased to inform you that payment functionality on the BVIFars portal has been fully restored. You may now proceed with transactions as usual. We appreciate your patience during the recent interruption and thank you for your continued support. If you encounter any issues, please don’t hesitate to contact us

BVIFars Portal – Payment Processing Unavailable

May 26th, 2025|

Dear Users, The BVIFars portal is currently unable to accept payments due to a technical issue. Our team is actively working to resolve the problem and restore payment functionality as quickly as possible. We apologize for any inconvenience this may cause and appreciate your patience and understanding during this time. Further updates

BVI Financial Account Reporting System

The International Tax Authority has created a web-based portal to provide a secure environment for BVI Financial Institutions to satisfy their obligations under the Agreement between the Government of the British Virgin Islands and the Government of the United States of America to Improve Tax Compliance via the Foreign Account Tax Compliance Act (US FATCA), the Agreement between the Government of the British Virgin Islands and the Government of the United Kingdom to Improve International Tax Compliance (UK CDOT) and the Arrangement under the Common Reporting Standards (CRS).

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Quick Links

BVI and US FATCA – Competent Authority Agreement BVI and UK CDOT – Competent Authority Agreement BVI and Guernsey – Competent Authority Agreement BVI and Isle of Man – Competent Authority Agreement CRS Multilateral Competent Authority Agreement

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